SunDial Inc. uses the retail inventory method and has the following information available concerning its most recent accounting period: Cost Retail Sales $1,300,000 Purchases $687,400 1,239,800 Beginning inventory 158,600 255,200 What is SunDial's estimated cost of ending inventory? (Round ratio to three decimal places and dollar amounts to the nearest cent.)
SunDial Inc. uses the retail inventory method and has the following information available concerning its most recent accounting period: Cost Retail Sales $1,300,000 Purchases $687,400 1,239,800 Beginning inventory 158,600 255,200 What is SunDial's estimated cost of ending inventory? (Round ratio to three decimal places and dollar amounts to the nearest cent.)
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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SunDial Inc. uses the retail inventory method and has the following information available concerning its most recent accounting period:
| Cost | Retail | |
| Sales | $1,300,000 | |
| Purchases | $687,400 | 1,239,800 |
| Beginning inventory | 158,600 | 255,200 |
What is SunDial's estimated cost of ending inventory? (Round ratio to three decimal places and dollar amounts to the nearest cent.)
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